This article is more than 7 month old.

Volkswagen takes on Tesla with first ID.4 electric models in China

Mini

The ID.4 CROZZ model is being made by Volkswagen's joint venture with FAW Group, while the ID.4 X is produced by a separate venture with SAIC Motor.

Volkswagen takes on Tesla with first ID.4 electric models in China
Volkswagen AG launched two ID.4 electric sport-utility vehicle models in China on Tuesday, taking on Tesla Inc in the world's biggest auto market.
The ID.4 CROZZ model is being made by Volkswagen's joint venture with FAW Group, while the ID.4 X is produced by a separate venture with SAIC Motor.
The models mark the start of a major push by Volkswagen into the electric vehicle market in China to take on the likes of Tesla and Nio Inc.
The German group did not disclose the price of the two models. But a presentation at the product launch said the starting price of the SUVs, which are larger than Tesla's China-made Model 3 sedans, would be less than 250,000 yuan ($37,450) after electric vehicle subsidies from the Chinese government.
The starting price for Model 3 sedans in China is currently 249,900 yuan, after subsidies.
The ID.4 models will have driving ranges of over 400 kilometers and offer over-the-air software updates, Volkswagen executives said at the event.
China chief Stephan Woellenstein said Volkswagen would roll out eight ID. family electric models in China by 2023.
Sales of electric, plug-in hybrid and hydrogen-powered vehicles in China are forecast to rise to 20 percent of new car sales by 2025 from just 5 percent now, the State Council said on Monday.
Around 1.1 million such vehicles are expected to be sold in China this year.

Market Movers

CompanyPriceChange%Loss
ONGC120.25 -4.85
Coal India146.40 -5.75
JSW Steel670.60 -25.75
NTPC113.55 -3.85
UPL808.00 -27.05
CompanyPriceChange%Loss
ONGC120.35 -4.65
NTPC113.55 -3.70
M&M784.85 -20.60
Power Grid Corp233.00 -6.70
Nestle17,678.30 -375.20
CompanyPriceChange%Loss
ONGC120.25 -4.85 -3.88
Coal India146.40 -5.75 -3.78
JSW Steel670.60 -25.75 -3.70
NTPC113.55 -3.85 -3.28
UPL808.00 -27.05 -3.24
CompanyPriceChange%Loss
ONGC120.35 -4.65 -3.72
NTPC113.55 -3.70 -3.16
M&M784.85 -20.60 -2.56
Power Grid Corp233.00 -6.70 -2.80
Nestle17,678.30 -375.20 -2.08

Currency

CompanyPriceChng%Chng
Dollar-Rupee73.8600-0.2175-0.29
Euro-Rupee87.8770-0.4200-0.48
Pound-Rupee102.2970-0.9290-0.90
Rupee-100 Yen0.6699-0.0019-0.29